EURUSD is moving sideways, but below the daily pivot zone at 1.2688. Should the pair successfully breach the barrier at 1.2608, it is expected to find support at 1.2560.
Alternative Scenario
A bounce up from current levels, will lift the market to reach the daily pivot point at 1.2688.
GBPUSD
H4
Resistance
1.6033
1.6165
1.6233
Support
1.5833
1.5765
1.5634
Primary Scenario
GBPUSD reached a multi-month low, signaling its bearish preposition. If the pair manages to extend its downtrend, it will hit the support level at 1.5833 and further down to 1.5765.
Alternative Scenario
A higher thrust of the exchange rate will lead the market towards the daily pivot at 1.5965 and even higher at 1.6033.
USDCHF
H4
Resistance
0.9571
0.9605
0.9657
Support
0.9484
0.9433
0.9398
Primary Scenario
The pair has been trapped between the support level at 0.9484 and the resistance level at 0.9571. An upward momentum would trigger the market to penetrate the hurdle at 0.9571, targeting the forthcoming resistance level at 0.9605.
Alternative Scenario
A plunge of USDCHF will push prices to find support at the daily pivot (0.9519) and then lower at 0.9484.
USDJPY
H4
Resistance
107.48
108.19
108.90
Support
107.02
106.64
106.03
Primary Scenario
USDJPY is still trading within a bearish sentiment. Any decisive movement downwards will push the pair towards the support at 107.02 and moreover lower at 106.64.
Alternative Scenario
A successful attempt to surpass the resistance level at 107.48, will lift the market to the next target at 108.19.
AUDUSD
H4
Resistance
0.8784
0.8856
0.8902
Support
0.8666
0.8620
0.8548
Primary Scenario
AUDUSD is oscillating around the daily pivot at 0.8738. Any forceful movement to the south, will lead the pair to retest the barrier at 0.8666. The next support is seen at 0.8620.
Alternative Scenario
If the currency rate achieves to exceed the daily pivot, it will fuel the pair further towards the resistance level at 0.8784.
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